$240 MILLION POWERBALL - Wednesday

Reply #33

kbcherokee — Wed, 09 Jul 2003 22:11:38 GMT

Hey gang...

Reply #32

midwstrngirl — Mon, 07 Jul 2003 15:39:02 GMT

hmmm, that gives me an idea

Reply #31

Todd — Sun, 06 Jul 2003 22:16:26 GMT

OK, I'll try to boil it down for you:The US federal government will deduct 30% of the prize if you are not a US citizen.You will only get some or all of it back if your country of residence has a tax treaty with the US.

Reply #30

midwstrngirl — Sun, 06 Jul 2003 22:08:12 GMT

my question about the

Reply #29

CASH Only — Sun, 06 Jul 2003 21:05:45 GMT

Todd:If I lived in Rockland Co, within walking distance of New Jersey, I would buy ALL my Mega Millions tickets in Jersey. However, I live in Westchester.

Reply #28

Todd — Sun, 06 Jul 2003 20:53:32 GMT

I thought what Thomas said was

Reply #27

CASH Only — Sun, 06 Jul 2003 20:37:50 GMT

Jeeves:I respect your criticism of me, but, until ALL lottery winners are paid in cash, or given the right to collect in lump sum (save for win for life ) prizes, I will continue to express my thoughts on this issue.No lottery should be allowed to force winners to receive annuity payments.

Reply #26

askjeeves — Sun, 06 Jul 2003 20:26:58 GMT

Yes, and you jumped on the bandwagon with his annuity comment. All of us know that you FAVOR cash over annuity. Why keep repeating it over and over and over and over in one form or another.Seems like everytime someone mentions annuity, you always seem to attack it. Give it up! We all know what your thoughts are.

Reply #25

CASH Only — Sun, 06 Jul 2003 20:04:38 GMT

Jeeves:Many of my posts have NOTHING to do with cash vs annuity.Thomas was pointing out something about NY winners moving to Florida while receiving annuity payments.

Reply #24

askjeeves — Sun, 06 Jul 2003 19:59:48 GMT

Cash: Why can't you change the subjects once in a while. It always seems like your posts are about players choosing cash rather than annuity. Also, besides the fact that you always bash on games where they pay only in annuity. Both you and AnnuityIsGreat should consider posting on other important subjects.

Reply #23

CASH Only — Sun, 06 Jul 2003 19:52:52 GMT

TC:Don't forget to tell AnnuityIsGross

Reply #22

golotto — Sun, 06 Jul 2003 19:29:41 GMT

Reply #21

askjeeves — Sun, 06 Jul 2003 19:22:03 GMT

TC: True. You do have to file a non-resident NY tax. I believe people do not file state taxes in FL but let's say you move to a state where you do have to pay taxes on lottery winnings, you're NOT paying double tax to NY and the state you move to. You'll receive state credit from NY and depending what the tax rate of the state you move to is, you might or might not have to pay add. taxes.

Reply #20

askjeeves — Sun, 06 Jul 2003 19:17:50 GMT

It might NOT matter if you win the multistate lottery of $200M but it does actually matter if you win the state lottery of only $2M or even second prizes like $175K or $100K. It does make a difference.

Reply #19

Thomas Covenant — Sun, 06 Jul 2003 19:13:44 GMT

Fact: If you win in NY and take the annuity, and then move to florida, you still have to pay NY state taxes every year.

Reply #18

visiondude — Sun, 06 Jul 2003 19:05:55 GMT

i guess the bottom line would be WHO CARES if you win that much $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ (LOL)waaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhooooooooooooooooo.VDQP B LS

Reply #17

askjeeves — Sun, 06 Jul 2003 18:54:18 GMT

You do have to pay taxes to SC. Also, like TC pointed out, 27% is only the withholding. You'll have to pay more taxes when you file if you choose lump sum. I think the maximum rate is between 36 - 39% according to tax yr 2002.Fact: If you live in NJ and purchase a MM tix in NY and you win the jackpot, you will have to pay the NY state tax. There is no state tax for lottery winnings in NJ.Fact: If you live in NY and buy a MM tix in NJ and you win the jackpot, you will still pay taxes to NY... [ More ]

Reply #16

visiondude — Sun, 06 Jul 2003 18:12:19 GMT

Quote

Reply #15

Todd — Sun, 06 Jul 2003 17:18:34 GMT

Just to add to what Thomas said, depending on where you live, the US government may have a tax treaty with your country. If so, you may end up paying taxes to your home country, and get reimbursed the US tax.

Reply #14

Thomas Covenant — Sun, 06 Jul 2003 12:54:11 GMT

Who pays taxes depends on their US status, and where they are from. If you win and cannot produce a valid SS#, the gov will withhold 30%.

Reply #13

midwstrngirl — Sun, 06 Jul 2003 12:46:55 GMT

do foreigners have to pay taxes on lottery winnings

Reply #12

AnnuityIsGreat — Sun, 06 Jul 2003 10:39:49 GMT

Quote: O

Reply #11

Thomas Covenant — Sun, 06 Jul 2003 10:00:24 GMT

That's what I got, more or less, still, I think I could live off that. If I budgeted wisely.

Reply #10

hypersoniq — Sun, 06 Jul 2003 09:54:34 GMT

$83,699,110.47 That's what I figure it would be worth, lump sum after taxes...

Reply #9

Thomas Covenant — Sun, 06 Jul 2003 09:49:39 GMT

Or hire someone to do it. I have enough trouble figuring out my taxes just on the little bit I earn now, LOL

Reply #8

billy-loco — Sun, 06 Jul 2003 09:43:16 GMT

Thomas; hmmmmm,,,,ok i'll do it.....file taxes quarterly that is...i mean why not? LOL

Reply #7

Thomas Covenant — Sun, 06 Jul 2003 09:33:50 GMT

Just wait awhile before you spend any money V-dude. Interest should put the money over 100 million in a short time. But remember V-dude, 27% is just the WITHHOLDING tax. You still owe more money to the government. You will have to file quarterly tax returns.

Reply #6

player nc — Sun, 06 Jul 2003 08:02:45 GMT

kristin i would throw in 22

Reply #5

visiondude — Sun, 06 Jul 2003 03:57:44 GMT

kristin,i was just kiddi

Reply #4

Kristin — Sun, 06 Jul 2003 03:35:58 GMT

$240 milli

Reply #3

visiondude — Sun, 06 Jul 2003 03:23:42 GMT

$240 millio

Reply #2

Kristin — Sun, 06 Jul 2003 03:01:09 GMT

Now this is a good size jac

Reply #1

Todd — Sun, 06 Jul 2003 02:58:00 GMT

It's in the range that anybody's who's anyone will buy a ticket, but I was actually expecting the jackpot to be somewhat higher. I think July 4th hurt ticket sales. Last Christmas, the jackpot jumped from $217M to $315M in one drawing. Probably included a lot of Christmas gifts, but I still expected at least a $60M bump.

$240 MILLION POWERBALL - Wednesday

Todd — Sun, 06 Jul 2003 02:26:11 GMT

Rolls over again!(Powerballonline.com